Category Archives: Blog

The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs). Fundamentals of HSAs An HSA is a trust created or organized exclusively for the purpose of paying the “qualified medical expenses” of an “account beneficiary.” An HSA can only be established for the benefit of an “eligible individual” who is…

The days of the Rolodex are long gone. To connect with customers and prospects, many businesses now rely on customer relationship management (CRM) software. These solutions give users easy access to comprehensive information — including detailed notes on existing connections with targeted individuals and companies — that can enhance marketing efforts and boost sales. CRM…

With the issuance of GASB Statement 97, defined contribution plans can now enjoy some favorable treatment when it comes to applying GASB Statement 84 for other types of Fiduciary Funds. In June 2020, GASB issued a pronouncement that amended the Fiduciary Funds accounting standard. When GASB Statement 84 was first issued, the standard impacted how…

Last week, Governor Tim Walz and legislative leaders announced the new state budget would include tax exemptions for unemployment benefits and PPP loans. Minnesota will now conform with the federal government on both areas. For unemployment benefits, this means that the first $10,200 received per taxpayer will not be taxable. All forgiven PPP loans will…